BlackRock TCP Capital Corp. has released its financial results for the first quarter of 2025, reporting an adjusted net investment income (NII) of $0.36 per share. This figure exceeds the regular first quarter dividend of $0.25 per share, which was paid on March 31, 2025. The annualized adjusted NII return on equity $(ROE)$ for the first quarter was recorded at 15.4%. The company declared a second quarter regular dividend of $0.25 per share and a special dividend of $0.04 per share, both scheduled to be paid on June 30, 2025, to shareholders of record as of June 16, 2025. The company maintains a strong dividend coverage ratio of 144% for the first quarter of 2025. Additionally, the Adviser agreed to waive one-third of its base management fee for three quarters starting January 1, 2025, and ending September 30, 2025, to support the company's financial performance. BlackRock TCP Capital Corp. reported a total portfolio fair value of $1.8 billion diversified across 146 portfolio companies, with 90% invested in senior secured debt and 83% in 1st lien. The weighted average yield of the performing debt portfolio is 12.2%. The first quarter saw total acquisitions of $66 million and dispositions of $85 million. The company operates a diverse leverage program totaling $1.6 billion, with $629 million of available liquidity, including $530 million in borrowing capacity. The net regulatory leverage ratio stands at 1.13x, within the regulatory limitation and the internal target range. The portfolio is emphasized on less-cyclical businesses, with significant collateral protections for cyclical company investments.